Austrian CNB Capital co-leads a €7M round for German startup sewts
Munich-based industrial automation and deep tech startup, sewts, has announced a €7 million in a Series A round co-led by Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures, and Nabtesco Technology Venture. With the new funding, sewts will accelerate its growth.
- sewts was founded in 2019. In 2022, it launched its first series-ready product, sewts.VELUM – a robotic cell designed to help industrial laundries overcome challenging labor shortages and strengthen operating efficiencies. The system automatically picks crumpled, laundered towels and feeds them into folding machines to reduce manual workload at a human-like speed.
“Our long-term vision is a “moonshot” idea – to revolutionize the production of textiles. To get there, we first dedicate ourselves to the most promising niche markets and then approach the big vision step by step”,Alexander Bley, сo-founder and CEO of sewts, said.
Leading investors in this round:
- Emerald Technology Ventures, a global VC firm, that managed and advised assets of over €1 billion from its offices in Zurich, Toronto, and Singapore.
- CNB Capital, Vienna-based independent evergreen investment fund with a strong sense for long-term value creation. CNB Capital focuses on European companies in their market-entry phase and beyond.
- EquityPitcher Ventures, an early-growth VC firm that supports startups from the DACH region.
- Nabtesco Technology Ventures, a corporate venture fund launched in 2018 by Japan’s Nabtesco Corporation, in partnership with Emerald Technology Ventures.
Existing shareholders Bayern Kapital, APEX Ventures, and HTGF also participated.
- The new funding will accelerate the roll-out of the sewts.VELUM systems across international laundries and enter new markets, such as the processing of clothing returns in e-commerce.